3100 Rode Rd · Melody Hill, IN 47711

$230,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records

Built 1954 Est $191k · 20% over

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.1/30.0
• DSCR +6.4/10.0
• 1% rule +4.4/10.0
• Rent growth +4.2/5.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of possibilities with this 3-bedroom Brick Ranch-Style home featuring a partially finished basement and attached carport. Large Living Room with hardwood floors underneath the carpet, as well as in other areas of the home. The galley kitchen is adjoined by a sunlit dining area. There is big backyard with a nice storage barn and mature trees.

Key facts

• Built 1954

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (5.8% below list).
• Recommended offer: $217k (5.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#249 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Evansville Vanderburgh School Corporation (urban): math 36% / reading 43% proficiency, ranked #153 of 301 in IN (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.7%/yr); 229 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).
• This rent runs 39% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $64k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $141k; list at $230k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,626 (5.8% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.33%
• DSCR: 1.24
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $191,400
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2609 Ashwood Ave	0.41mi	3/1.0	1,075 (-2%)	3mo	$187,000	$174	75
3041 Ivy Meadow Dr	0.15mi	3/2.0	1,189 (+8%)	11mo	$226,000	$190	66
2625 Ashwood Ave	0.38mi	3/1.0	1,015 (-8%)	7mo	$113,000	$111	63
4901 Elmhurst Dr	0.35mi	3/1.0	1,052 (-4%)	19mo	$153,000	$145	60
3625 Ebbets Dr	0.73mi	3/2.0	1,102 (+0%)	4mo	$255,000	$231	59
5026 Cunningham Dr	0.44mi	2/1.0 (-1)	1,250 (+14%)	19mo	$189,900	$152	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.72% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.83×
• Total profit: $-10,721
• Equity at exit: $34,294

10-year hold

• IRR: 9.0%
• Equity multiple: 1.79×
• Total profit: $51,094
• Equity at exit: $19,886

Cash invested: $64,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47711

• Home prices YoY: -32.3%
• Rents YoY: 6.7%
• Active inventory: 229
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,166 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$124 /mo · $1,482/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $286

Break-even live

Break-even rent $1,804

Max offer price $230,000

Occupancy floor 82%

Sensitivity live

Price	-10% $416	-5% $351	+0% $286	+5% $221	+10% $156
Rent	-10% $115	-5% $200	+0% $286	+5% $371	+10% $457
Rate	-1.0pp $402	-0.5pp $344	base $286	+0.5pp $226	+1.0pp $166

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2807 Ridgewood Dr Evansville, IN	2.0	1.0	1020	$1,075	$1.05	14d	1	0.32mi
3629 Mariner Dr Evansville, IN	3.0	2.0	1395	$1,895	$1.36	14d	1	0.88mi
4901 Pleasant Ridge Dr Evansville, IN	2.0–3.0	2.0	1130	$999	$0.88	14d	1	0.95mi
3617 Harvard Ct Evansville, IN	3.0	2.0	1369	$1,700	$1.24	21d	1	1.06mi
4808 Old Tyme Ct Evansville, IN	2.0	1.0–2.0	1052	$3,074	$2.92	14d	1	1.21mi
6143 Boston Way Unit 6143 Evansville, IN	2.0	1.0	785	$2,500	$3.18	21d	1	1.21mi
6145 Boston Way Evansville, IN	2.0	1.0	785	$2,500	$3.18	21d	1	1.22mi
6147 Boston Way Unit 6147 Evansville, IN	2.0	1.0	785	$2,500	$3.18	21d	1	1.22mi
6209 Boston Way Evansville, IN	2.0	1.0	785	$2,500	$3.18	21d	1	1.22mi
6231 Boston Way Unit 6231 Evansville, IN	2.0	2.0	1320	$3,500	$2.65	21d	1	1.23mi
4208 Spring Valley Rd Evansville, IN	3.0	2.5	1483	$1,800	$1.21	14d	1	1.45mi

Listing history 7 events

1. 2026-05-26
   listed $230,000
2. 2022-12-09
   soldstatus $141,000 Closed 348-char remark

   Show marketing remark (345 chars)

   Many possibilities with this 3-bedroom Brick Ranch-Style home featuring a partially finished basement and attached carport. Large Living Room with hardwood floors underneath the carpet, as well as in other areas of the home. The galley kitchen is adjoined by a sunlit dining area. There is Big backyard with a nice storage barn and mature trees.

3. 2022-12-09
   soldstatus $141,000 Closed 345-char remark

   Show marketing remark (345 chars)

   Many possibilities with this 3-bedroom Brick Ranch-Style home featuring a partially finished basement and attached carport. Large Living Room with hardwood floors underneath the carpet, as well as in other areas of the home. The galley kitchen is adjoined by a sunlit dining area. There is Big backyard with a nice storage barn and mature trees.

4. 2022-11-15
   status Pending 345-char remark

   Show marketing remark (345 chars)

   Many possibilities with this 3-bedroom Brick Ranch-Style home featuring a partially finished basement and attached carport. Large Living Room with hardwood floors underneath the carpet, as well as in other areas of the home. The galley kitchen is adjoined by a sunlit dining area. There is Big backyard with a nice storage barn and mature trees.

5. 2022-11-13
   historical 348-char remark

   Show marketing remark (348 chars)

   Lots of possibilities with this 3-bedroom Brick Ranch-Style home featuring a partially finished basement and attached carport. Large Living Room with hardwood floors underneath the carpet, as well as in other areas of the home. The galley kitchen is adjoined by a sunlit dining area. There is big backyard with a nice storage barn and mature trees.

6. 2022-11-11
   listed $125,000 348-char remark

   Show marketing remark (348 chars)

   Lots of possibilities with this 3-bedroom Brick Ranch-Style home featuring a partially finished basement and attached carport. Large Living Room with hardwood floors underneath the carpet, as well as in other areas of the home. The galley kitchen is adjoined by a sunlit dining area. There is big backyard with a nice storage barn and mature trees.

7. 2022-11-10
   listed $125,000 Active 345-char remark

   Show marketing remark (345 chars)

   Many possibilities with this 3-bedroom Brick Ranch-Style home featuring a partially finished basement and attached carport. Large Living Room with hardwood floors underneath the carpet, as well as in other areas of the home. The galley kitchen is adjoined by a sunlit dining area. There is Big backyard with a nice storage barn and mature trees.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,482 · $124/mo
• Projected year-2 tax: $1,719 · $143/mo
• Expected delta: +$236/yr (+$20/mo · 15.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,995
• − Mortgage interest: −$12,884
• − Property taxes: −$1,482
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,080
• − Management: −$2,080
• − Depreciation: −$6,691
• Taxable loss: −$371
• Est. tax savings @ 24.0%: +$89
• After-tax cash flow: $3,519/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Evansville Vanderburgh School Corporation
• NCES district ID: 1803450
• Math proficiency: 36% ▼ -7.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $43,270
• Composite: 33.41/100
• National rank: #5471
• State rank: #153 of 301 in IN

Livability — Melody Hill

• Score: 67/100
• State rank: #249
• US rank: #10594

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A- Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Melody Hill, IN
• County: Vanderburgh County · 146,793 people
• Metro: Evansville, IN-KY
• Population (ZIP): 30,944
• Household income: $66,320
• Rent vs Own: 24.4% rent · 75.6% own
• Severe rent burden: 659.0

Population outlook (Vanderburgh County) Hauer SSP2

• Today (2025): 187,038 people
• By 2030: 188,907 · +1.0%
• By 2040: 190,272 · +1.7%
• By 2050: 188,871 · +1.0%
• By 2075: 180,751 · -3.4%
• By 2100: 163,015 · -12.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Vanderburgh

• 2024 margin: R (+12.7) · D 43.0% · R 55.6% · Other 1.4%
• 2008→2024 swing: -15.1pp toward R · 2008: 2.5pp · 2024: -12.7pp
• All cycles: 2024: R+12.7 2020: R+9.6 2016: R+16.9 2012: R+10.8 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.98%
• Current HPI: 205.62
• Rent YoY: ▲ 6.72%
• Metro: Evansville, IN-KY
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+84.0% since first listed

7 events — show timeline

• 2026-05-26 Listed $230,000 FSBO.com
• 2022-12-09 Sold (MLS) $141,000 IRMLS
• 2022-12-09 Sold (MLS) $141,000 HABOR
• 2022-11-15 Pending — IRMLS
• 2022-11-13 Delisted — HABOR
• 2022-11-11 Listed $125,000 HABOR
• 2022-11-10 Listed $125,000 IRMLS

Property tax history

+9.0%/yr

Latest (2024): $1,482 · +0.1% YoY. Source: county tax records.